BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Boosts Stock Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 60.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,950 shares of the real estate investment trust’s stock after buying an additional 12,826 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Equity LifeStyle Properties were worth $2,211,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ELS. Johnson Investment Counsel Inc. raised its position in shares of Equity LifeStyle Properties by 0.6% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 26,792 shares of the real estate investment trust’s stock worth $1,745,000 after acquiring an additional 152 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Equity LifeStyle Properties by 0.3% during the 4th quarter. Wellington Management Group LLP now owns 59,874 shares of the real estate investment trust’s stock worth $4,224,000 after buying an additional 155 shares during the last quarter. LRI Investments LLC boosted its holdings in shares of Equity LifeStyle Properties by 8.7% in the 2nd quarter. LRI Investments LLC now owns 2,132 shares of the real estate investment trust’s stock valued at $139,000 after buying an additional 171 shares in the last quarter. Naviter Wealth LLC grew its position in shares of Equity LifeStyle Properties by 1.6% in the 1st quarter. Naviter Wealth LLC now owns 12,404 shares of the real estate investment trust’s stock valued at $805,000 after buying an additional 192 shares during the last quarter. Finally, Farrow Financial Inc. raised its stake in Equity LifeStyle Properties by 1.0% during the 2nd quarter. Farrow Financial Inc. now owns 22,089 shares of the real estate investment trust’s stock worth $1,439,000 after acquiring an additional 211 shares in the last quarter. 97.21% of the stock is owned by hedge funds and other institutional investors.

Equity LifeStyle Properties Price Performance

Shares of NYSE ELS opened at $70.76 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.03 and a quick ratio of 0.03. The company has a market cap of $13.20 billion, a PE ratio of 38.67, a P/E/G ratio of 4.22 and a beta of 0.79. The stock has a fifty day moving average price of $71.35 and a 200 day moving average price of $66.25. Equity LifeStyle Properties, Inc. has a 1-year low of $59.82 and a 1-year high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last issued its earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.23). The firm had revenue of $380.00 million during the quarter, compared to analysts’ expectations of $334.53 million. Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 EPS. Sell-side analysts forecast that Equity LifeStyle Properties, Inc. will post 2.91 EPS for the current year.

Equity LifeStyle Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a $0.4775 dividend. The ex-dividend date is Friday, September 27th. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.70%. Equity LifeStyle Properties’s payout ratio is 104.37%.

Insider Buying and Selling

In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $75.52, for a total value of $2,492,160.00. Following the completion of the sale, the chief executive officer now owns 260,936 shares of the company’s stock, valued at $19,705,886.72. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, COO Patrick Waite sold 20,820 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $70.23, for a total value of $1,462,188.60. Following the completion of the transaction, the chief operating officer now directly owns 221,777 shares of the company’s stock, valued at approximately $15,575,398.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marguerite M. Nader sold 33,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $75.52, for a total value of $2,492,160.00. Following the sale, the chief executive officer now owns 260,936 shares in the company, valued at $19,705,886.72. The disclosure for this sale can be found here. Insiders have sold 85,808 shares of company stock valued at $6,348,011 over the last quarter. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

ELS has been the subject of several research analyst reports. Truist Financial upped their price objective on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $68.00 target price on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $70.50 to $82.00 in a research note on Thursday, September 19th. Finally, Evercore ISI raised their target price on shares of Equity LifeStyle Properties from $73.00 to $76.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Equity LifeStyle Properties has an average rating of “Hold” and a consensus price target of $70.67.

Equity LifeStyle Properties Company Profile

We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of January 29, 2024, we own or have an interest in 451 properties in 35 states and British Columbia consisting of 172,465 sites.